Diversify Wealth Management LLC Makes New $1.07 Million Investment in BitMine Immersion Technologies, Inc. $BMNR

Diversify Wealth Management LLC purchased a new stake in shares of BitMine Immersion Technologies, Inc. (NYSE:BMNR) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 51,863 shares of the company’s stock, valued at approximately $1,071,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley increased its position in BitMine Immersion Technologies by 25.8% during the fourth quarter. Morgan Stanley now owns 12,197,071 shares of the company’s stock valued at $331,151,000 after acquiring an additional 2,500,368 shares during the last quarter. Marex Group plc grew its stake in shares of BitMine Immersion Technologies by 560.1% during the 4th quarter. Marex Group plc now owns 10,024,103 shares of the company’s stock valued at $272,154,000 after purchasing an additional 8,505,421 shares during the period. ARK Investment Management LLC grew its stake in shares of BitMine Immersion Technologies by 26.6% during the 4th quarter. ARK Investment Management LLC now owns 9,457,330 shares of the company’s stock valued at $256,767,000 after purchasing an additional 1,987,517 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of BitMine Immersion Technologies by 29.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,916,195 shares of the company’s stock valued at $133,475,000 after purchasing an additional 1,131,556 shares during the last quarter. Finally, Amova Asset Management Americas Inc. increased its position in shares of BitMine Immersion Technologies by 29.9% during the 4th quarter. Amova Asset Management Americas Inc. now owns 4,911,524 shares of the company’s stock valued at $133,397,000 after purchasing an additional 1,129,706 shares during the last quarter.

BitMine Immersion Technologies Stock Down 2.9%

BMNR stock opened at $15.81 on Thursday. The business’s 50-day moving average price is $17.13 and its 200-day moving average price is $21.14. The stock has a market cap of $9.01 billion and a P/E ratio of -121.65. BitMine Immersion Technologies, Inc. has a twelve month low of $12.80 and a twelve month high of $71.74.

BitMine Immersion Technologies (NYSE:BMNR) last issued its quarterly earnings results on Tuesday, July 14th. The company reported ($128.25) earnings per share for the quarter. BitMine Immersion Technologies had a negative net margin of 14,306.56% and a positive return on equity of 3.49%. On average, equities research analysts expect that BitMine Immersion Technologies, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald dropped their price objective on shares of BitMine Immersion Technologies from $39.00 to $30.30 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. Weiss Ratings assumed coverage on shares of BitMine Immersion Technologies in a research note on Friday, April 17th. They set a “sell (d-)” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.15.

About BitMine Immersion Technologies

BitMine Immersion Technologies, Inc (NYSE American: BMNR) is an engineering and technology company specializing in immersion cooling solutions for digital asset mining and high-performance computing (HPC) applications. The company develops proprietary direct-to-chip systems that submerge servers in non-conductive dielectric fluids to efficiently remove heat, enabling clients to achieve higher processing density and improved energy efficiency.

BitMine offers turnkey services spanning system design, equipment supply, installation and ongoing maintenance.